OmniTRAX Forms Audit Committee to Pace Future Corporate Performance
Former Board Chair Mike Brothers Leads Financial Initiative
DENVER–(BUSINESS WIRE)–OmniTRAX, one of the fastest growing railroads in North America and an affiliate of The Broe Group, announces Mike Brothers will chair its newly established Audit Committee as part of the company’s strategic growth plan. Audit activities were previously the responsibility of the entire board. The Audit Committee will be comprised of OmniTRAX board members, Broe family members and management representatives, and commences its work immediately.
“Given our dramatic pace of growth, we’ve reached the point where a formal committee’s collaborative guidance can really provide invaluable insights to help our executive team leverage our financial performance,” said Kevin Shuba. “Mike’s knowledge of the company from working with us for 20 years and his leadership will help the Audit Committee provide the guidance to enable strong fiscal agility and certainty as we weigh future strategic opportunities.”
Known for its best-in-class service and safety industry performance, OmniTRAX’s enhanced attention to its financial reporting positions the company to build on its record-setting performance. The Audit Committee is tasked with delivering industry-leading financial reporting and analysis to inform company strategy.
Brothers, a founding OmniTRAX board member, participated in the recruitment of the current management team and its most recent board additions, and is uniquely qualified to lead the new committee’s work directly supporting company leadership.
“OmniTRAX assembled a world class leadership team that continues to post impressive growth,” said Mike Brothers. “Our committee work will ensure that leadership has the critical financial tools to maintain its extraordinary trajectory.”
A Chicago native, Brothers currently serves as managing director in debt capital markets for Fifth Third Bank and combines two decades of transportation experience with an extensive career aiding privately held entrepreneurial businesses. He graduated from Bradley University and holds a MBA from The University of Notre Dame.
About OmniTRAX, Inc.
As one of North America’s largest and fastest growing private railroad and transportation management companies, OmniTRAX's core capabilities range from providing transportation and supply chain management services to railroad and port companies, to providing intermodal and industrial switching operations to railroads, ports and a diverse group of industrial companies. Through its affiliation with The Broe Group and its portfolio of managed companies, OmniTRAX also has the unique capability of offering specialized industrial development and real estate solutions, both on and off the rail network managed by OmniTRAX. More information is available at omnitrax.com.
About The Broe Group
Based in Denver, The Broe Group and its affiliates form a privately-owned, multi-billion-dollar real estate, transportation, energy and investment organization with assets owned and managed across North America. Together, Broe managed companies employ more than 1,000 people and support employment of thousands of others through operations such as its Great Western Industrial Park in Northern Colorado. Its transportation affiliate, OmniTRAX, Inc., is one of North America’s largest private railroad and transportation management companies specializing in: management services, railroad and port services, intermodal solutions and industrial switching operations. Its energy affiliates include Great Western Petroleum LLC, the largest private operator in the third most prolific U.S. basin. Broe Real Estate Group acquires, develops and manages office and industrial properties, medical office buildings and multi-family communities across the country, including premier assets in many of the most desirable markets. The Broe Group also has multiple investment affiliates, including Three Leaf Ventures, which is focused on innovative healthcare technology start-ups. For more information, visit broe.com.